2013 Forecast: Canada’s upstream sector survives on oil activity ///

As Canadian producers turned the corner on 2013, the year ahead brought promise of little change from the issues that their industry faced last year. Natural gas prices remain low, and oil prices have been artificially reduced in Western Canada, as the lack of pipeline capacity has created a regional oil surplus. Canadian prices have been further dampened by growth in the American tight oil market, which has created a glut of its own in the U.S. Midwest.